Luggage Market Increasing Focus on Lightweight Bags 2017 to 2021

Historically, the most common types of luggage were chests or trunks made of wood or other heavy materials. These would be shipped by professional movers. Since the second world war, smaller and more lightweight suitcases and bags that can be carried by an individual have become the main form of luggage. A modern traveller can be expected to have packages containing clothing, toiletries, small possessions, trip necessities, and on the return-trip, souvenirs. For some people, luggage and the style thereof is representative of the owner’s wealth.

The overall luggage market can be divided into three primary sub segments; casual bags, travel bags and business bags. Casual bags include different types of backpacks, female and male shoulder bags and wheeled duffel bags. The travel bag segment comprises of travel products, such as suitcases and carry-ons. And, business bags include convenience for carrying a laptop and documents, and these bags often come in the form of rolling mobile office, briefcase or computer bags.

Several factors such as improving travel activities, growth in population of HNWIs, rise in urban population and increasing disposable income will drive growth of the market in the coming years. Further, rising internet penetration and technological innovation will act as a catalyst for the market growth. However, risk of counterfeiting and negative currency impact could prove to be major roadblocks in the smooth market surge. Few notable trends such as oligopoly in organized market segment and increasing focus on lightweight bags are also highlighted in this report.

The report “Global Luggage Market: Industry Analysis & Outlook (2017-2021)” analyzes the development of this market, with focus on Asia-Pacific, North America and Europe regions. The major trends, growth drivers as well as issues being faced by the market are discussed in detail in this report. The four major players: LVMH Moët Hennessy Louis Vuitton SE, V.F. Corporation, Samsonite International S.A. and V.I.P. Industries Ltd. are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global luggage market along with the study of the regional markets.